(Senior Advisor, Research Institute for European and American Studies, Greece, and Associate at the Center for Strategic Studies, University of Jordan)
Copyright: http://www.cceia.unic.ac.cy (Cyprus Centre for European and International Affairs) – Publication Date on RIEAS web site: 21 June 2015
The discovery of natural gas resources in the East Mediterranean promise important benefits of energy security and economic gains. A 2010 US geological survey showed that the Levantine basin - offshore Israel, Gaza, Lebanon, Syria and Cyprus - could hold as much as 120 trillion cubic feet, thus securing supply of energy not only for the countries of the region but also for Europe.
Regional countries are currently at various stages of exploration and development which are however fraught by political risks and policy dilemmas. Thus cooperation, conflict resolution and the creation of interdependency structures are prerequisites to unlock the potential of the region and safeguard the unimpeded flow of future gas production... Read more